Replies to post #678180 on NorthWest Biotherapeutics Inc (NWBO)

[hankmanhub]

From the NWBO PR of Dec 7, 2016:

Northwest Biotherapeutics (Nasdaq: NWBO) ("NW Bio" or the "Company"), a biotechnology company developing DCVax® personalized immune therapies for solid tumor cancers, today announced that the Nasdaq Staff has not accepted the Company's plan of remediation for certain violations of Listing Rules previously reported, and the Company has notified Nasdaq of its intention to voluntarily withdraw the Company's common stock from listing on Nasdaq. Upon withdrawal from Nasdaq, the Company plans to begin trading on the over-the-counter (OTC) market.

....

The Company will file a Form 25 with the Securities and Exchange Commission on December 19. The delisting is expected to become effective 10 calendar days later. During this 10-day period, the Company's stock is anticipated to be trading on the OTC market.

....

Based upon the aggregation, the Nasdaq Staff determined that the transactions did not comply with Nasdaq's Listing Rule 5635(d) since, in the aggregate, they exceeded 20% of the number of shares outstanding prior to May 15, 2016.

....

In that regard, as previously announced on June 24, 2016, the Company is currently under a grace period for compliance with the $1.00 per share bid price requirement, as set forth in Listing Rule 5550(a)(2), which expires on December 21, 2016.

....

The Company's Board of Directors considered a variety of factors and reached a unanimous decision for the Company to voluntarily withdraw its listing on Nasdaq and undertake the actions necessary to trade on the OTCQB, rather than seeking to remain on Nasdaq and go through the hearing process.

So will the CRA consider this as voluntary (and not forced by the NASDAQ) and therefore consider NWBO as qualifying to be in a TFSA?

Is anyone aware how the majority of "delistings" occur? Are they generally "voluntary delistings" seeing the writing on the wall, or are they forcibly imposed by the exchange? In other words, was NWBO's "voluntary delisting" the way this usually happens, or was this an exception from the norm?

[Sojourner55]

Hankmanhub, have you decided what course of action you’re going to take with respect to NWBO in your TFSA/ RRSP? Transferring to a non registered account will incur withholding tax plus penalties and future capital gains. So is it better off to take the hit inside the account? Have you consulted a tax lawyer or accountant? Appreciate if you could share. TIA